Latest news with #RM374.5
New Straits Times
5 days ago
- Business
- New Straits Times
Penang wants study on cable car link between Botanic Gardens and Gurney Bay
pix by MIKAIL ONG GEORGE TOWN: The Penang government has asked Hartasuma Sdn Bhd (Hartasuma) to conduct a feasibility study for a cable car project linking the Penang Botanic Gardens and Gurney Bay here. Chief Minister Chow Kon Yeow said this would provide another transport link between both landmarks in the state. "Penang Botanic Gardens and Gurney Bay are about 2.5km from each other. We want to see if it is feasible to have a cable car connection. "This will be a seamless one," he told newsmen here today. Chow said Hartasuma, which is undertaking the Penang Hill cable car project, was not the intended concessionaire for this new proposed link. "We just ask them to conduct a study and we will take it from there," he added. Chow said this after witnessing the signing ceremony for the financing facility of the Penang Hill cable car project between Hartasuma and Bank Penbangunan Malaysia Bhd (BPMB). The RM374.5 million facility represents a major step forward as the project moves towards full-scale construction. In April last year, Hartasuma, a leading pioneer in the local rail industry with almost 30 years' experience, had entered into a contract with Doppelmayr Seilbahnen GmbH, a global market leader in ropeway engineering, for the much-anticipated Penang Hill cable car project. The project was awarded to Hartasuma through a public-private partnership contract announced on Dec 14, 2022. Doppelmayr was chosen to provide the cable car system. In June last year, Prime Minister Datuk Seri Anwar Ibrahim launched the Penang Hill cable car project, marking a milestone in the state's efforts to enhance the state's tourism infrastructure by improving connectivity and accessibility to the tourist site, and transforming it into a must-visit historic landmark.
New Straits Times
5 days ago
- Automotive
- New Straits Times
Penang mulls second cable car link between Botanic Gardens and Gurney Bay
GEORGE TOWN: The Penang government has asked Hartasuma Sdn Bhd (Hartasuma) to conduct a feasibility study for a possible cable car project linking Penang Botanic Gardens and Gurney Bay. Chief Minister Chow Kon Yeow said the proposed link would provide another connection between the two major landmarks. "Penang Botanic Gardens and Gurney Bay are about 2.5km apart. "We want to see if it is feasible to have a cable car connection. "This will be a seamless one," he told newsmen here today. Chow said that Hartasuma, which is undertaking the ongoing Penang Hill cable car project, was not the concessionaire for this newly proposed link. "We are only asking them to conduct a study, and we will take it from there," he said. Chow was met after witnessing the signing ceremony for the financing facility of the Penang Hill cable car development between Hartasuma and Bank Pembangunan Malaysia Bhd (BPMB). The RM374.5 million financing facility represents a major step forward for the project as it moves towards full-scale construction. In April last year, Hartasuma, a leading Malaysian homegrown pioneer in the local rail industry with almost 30 years of experience, formally entered into a contract with Doppelmayr Seilbahnen GmbH, a global market leader in ropeway engineering, for the much-anticipated Penang Hill cable car project. The Penang Hill cable car project was successfully awarded to Hartasuma through a Public-Private Partnership (PPP) on a Design, Finance, Build, Operate and Transfer basis, as announced on Dec 14, 2022, with Doppelmayr providing the cable car system. In June last year, Prime Minister Datuk Seri Anwar Ibrahim launched the Penang Hill cable car project, marking a milestone in the state's efforts to enhance Penang's tourism infrastructure, improve connectivity and accessibility to Penang Hill, and transform it into a must-visit historic landmark.
BusinessToday
30-07-2025
- Business
- BusinessToday
Bursa's 1HFY25 PAT Declines 19% To RM125 Million, Declares 14 sen Dividend
Bursa Malaysia Berhad posted a Profit After Tax, Zakat and Minority Interest of RM125.5 million for the first half ended 30 June 2025. This represents a decrease of 19.3% from RM155.5 million reported for the first half ended 30 June 2024. The Exchange said the lower PATAMI was primarily attributed to 8.1% decrease in operating revenue, to RM344.3 million in 1H2025 from RM374.5 million in 1H2024 Revenue for the second quarter was also down to RM172 million from RM199 million in the preceding year's quarter, and profit after tax declined to RM57 million from RM80 million in 2QFY24. Concurrently, Bursa saw its total operating expenses increase by 6.6% to RM189.3 million in 1H2025, against RM177.6 million in 1H2024, primarily due to higher staff costs and technology-related expenses to support product expansion across asset classes, and capacity building, as well as an increase in administrative and building management expenses. As for the Derivatives Market, the trading revenue saw a notable increase of 8.1% to RM56.1 million in 1H2025 from RM51.9 million in 1H2024, mainly due to higher Average Daily Contracts ('ADC') traded for Crude Palm Oil Futures ('FCPO'). In line with the strategy to grow the derivatives business, the Exchange relaunched Single Stock Futures in 1H2025 with enhanced specifications to broaden its investor base and boost trading the Islamic Market front, operating revenue recorded a 23.0% increase to RM11.0 million in 1H2025 from RM9.0 million in 1H2024, mainly driven by higher Bursa Suq Al-Sila' ('BSAS') trading revenue of RM9.6 million in 1H2025 from RM8.3 million in 1H2024. Trading revenue from Bursa Gold Dinar doubled, to RM1.4 million in 1H2025 from RM0.7 million in 1H2024. Meanwhile, operating revenue from the Data Business segment increased by 6.4% to RM40.5 million in 1H2025 from RM38.0 million in 1H2024, as a result of licensing subscriptions expansion, driven by rising demand for high-quality, actionable data across financial and sustainability domains. Commenting on the market outlook, Bursa CEO Dato' Fad'l Mohamed said, 'Malaysia's capital market remains resilient, supported by strong economic fundamentals, accommodative monetary policies, and clear government policies, which are unlocking growth opportunities in strategic industries.' The Board of Directors has declared an interim dividend of 14.0 sen per share for the financial year ending 31 December 2025. This amounts to RM113.3 million, corresponding to a dividend payout ratio of 90.3%. Related
